Birch Hill Investment Advisors LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Birch Hill Investment Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 14,280 shares of the information services provider’s stock after selling 343 shares during the quarter. Alphabet accounts for 2.0% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Birch Hill Investment Advisors LLC’s holdings in Alphabet were worth $31,237,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. SWS Partners acquired a new position in Alphabet in the first quarter worth about $28,000. Rational Advisors LLC acquired a new position in Alphabet in the first quarter worth about $28,000. IAG Wealth Partners LLC grew its stake in Alphabet by 120.0% in the first quarter. IAG Wealth Partners LLC now owns 11 shares of the information services provider’s stock worth $31,000 after purchasing an additional 6 shares in the last quarter. Rather & Kittrell Inc. acquired a new position in Alphabet in the fourth quarter worth about $34,000. Finally, Westchester Capital Management Inc. acquired a new position in Alphabet in the first quarter worth about $36,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total value of $165,000.00. Following the transaction, the director now owns 33,260 shares of the company’s stock, valued at $3,658,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the transaction, the chief accounting officer now directly owns 1,192 shares in the company, valued at approximately $2,582,754.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the transaction, the director now owns 33,260 shares in the company, valued at $3,658,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,536 shares of company stock valued at $15,729,998. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $100.57 on Friday. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 18.71, a P/E/G ratio of 1.62 and a beta of 1.08. Alphabet Inc. has a 1 year low of $99.41 and a 1 year high of $152.10. The business’s fifty day moving average is $112.60 and its two-hundred day moving average is $118.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The company had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period in the prior year, the company posted $27.26 EPS. On average, research analysts forecast that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOG. Itau BBA Securities began coverage on Alphabet in a research note on Tuesday, July 26th. They issued a “market perform” rating for the company. Guggenheim decreased their target price on Alphabet to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. The Goldman Sachs Group set a $150.00 target price on Alphabet in a research note on Wednesday, July 27th. Cowen decreased their target price on Alphabet from $300.00 to $150.00 in a research note on Monday, July 25th. Finally, Citigroup decreased their target price on Alphabet from $158.75 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.05.

About Alphabet

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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